Australia jobless ranks steady despite new jobs
(03-14 12:47)
Australia created seven times more jobs than expected in February, a surprise result that helped keep the unemployment rate steady and takes pressure off the central bank to cut interest rates.
There are 660,000 jobless Australians.
The Australian Bureau of Statistics said 71,500 people found employment last month, AFP reports.
UBS economist George Tharenou said the result, the best since 2000, “is clearly a strong result and shows that employment growth is tracking much faster than some people had been expecting.’’
The bureau also said the rate of unemployment stood at 5.4 percent, unchanged from January and better than predictions for a rise to 5.5 percent.
The increase included 17,800 full-time posts and 53,700 part-time positions, helping to offset an increase in the participation rate – the proportion of people in work or looking for work – to 65.3 percent from 65 percent.
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